ASSA Strengthens Logistics Business with Investment in Coldspace

By Editorial Team 04/05/2023
cold storage
Summary

Triputra Group and subsidiary PT Adi Sarana Armada Tbk (ASSA) pumped US$3.8 million or Rp 55.88 billion in the pre-seed funding round of integrated cold chain startup Coldspace.

These two companies and Intudo Ventures led the round with the support of MKA and ITS. ASSA CEO Prodjo Sunarjanto revealed the plan to merge Coldspace operations into those of ASSA Logistics, Anteraja, and Titipaja.

"With this synergy, we can provide sustainable cold chain services from the first to the last mile until the end customer," he said on Wednesday. Coldspace's healthy performance was also what ASSA was attracted to.

Coldspace plans to use the proceeds to expand its cold storage, reefer trucks, fulfillment, and geographic coverage; launch a suite of management solutions for customers to help manage and track products, including its Warehouse Management System (WMS) and Transportation Management System (TMS), and provide them as a free value-add service to perform analytics; offer training; and improve service quality. Coldspace currently operates in Greater Jakarta (Jabodetabek), Surabaya, Malang, Bali, and Medan.

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